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Alina [70]
2 years ago
9

Anew Health Care Company reports net income of $210,000 and Depreciation Expense of $24,000 for the year ending December​ 31, 20

19. No long−term assets were sold or exchanged during 2019. They also have the following data​ available: December​ 31, 2018 Current​ Assets: Cash $30,000 $80,000 Accounts Receivable $160,000 96,000 Inventory $99,000 72,000 Total Current Assets $289,000 $248,000 Current​ Liabilities: Accounts Payable $52,000 $42,000 Salaries Payable 39,000 91,000 Total Current Liabilities $91,000 $133,000 Using the indirect​ method, what is the net cash provided by operating activities for the year ending December​ 31, 2019?
Business
1 answer:
Fiesta28 [93]2 years ago
3 0

Answer:

$344,000

Explanation:

                                                      2018                 2019            Change

                                                 Amount in $    Amount in $  Amount in $

Inventory                                     99,000.00      72,000.00       27,000.00  Total current asset                   289,000.00    248,000.00       41,000.00  Accounts payable                               52,000.00     42,000.00     (10,000.00)

Salaries payable                              39,000.00      91,000.00      52,000.00  

                                                                           Amount in $

Net income                                                             210,000.00  

Add depreciation                                                      24,000.00  

Changes to current assets and liabilities  

Inventory                                                               27,000.00  

Total current asset                                               41,000.00  

Accounts payable                                                        (10,000.00)

Salaries payable                                                       <u> 52,000.00  </u>

Net cash flows from operating activities               <u>344,000.00  </u>

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